Harborside Resort at Atlantis Ready for Phase Two

22 June 2004

Construction of Phase Two, including 116 luxury villas, of Harborside Resort at Atlantis will begin on July 1, 2004. The resort currently has 82 villas and is a 50/50 joint venture between subsidiaries of Starwood Vacation Ownership Inc. and Kerzner International Limited.
Harborside Resort at Atlantis is the only vacation ownership resort associated with the award winning Atlantis Paradise Island Resort in the Bahamas. Its owners and guests have full privileges at all of the resort’s amenities, including the largest casino in the Bahamas and Caribbean, an 11 million gallon marine habitat with more than 50,000 animals, numerous water attractions including slides, pools, snorkeling and a lazy river, numerous restaurant choices from fine to casual poolside dining. The resort also features championship golf, a full-service luxury spa, and an upscale shopping complex. The second phase of Harborside Resort at Atlantis will include new three-bedroom lock-off villas that will accommodate up to twelve guests.

The company is currently interviewing local Bahamian general contracting firms and recognizes The Bahamas’ efforts to regulate the industry in a way that protects both consumers’ and developers’ interests. The Bahamian government is currently considering several changes to the current Timeshare Act that would assist in attracting new business to the islands.

“The vacation ownership industry is quickly becoming an important part of the Bahamas’ economy. Following the tragedy of September 11, we quickly found out how resilient the timeshare industry is and how important these owners are to our economy” said Allyson Maynard-Gibson, Minister of Financial Services and Investments of the Bahamas. “We are working closely with developers to make changes to our current Timeshare Act that will entice more developers to consider The Bahamas when exploring new opportunities to build.”

“We are extremely pleased with the Bahamian government’s recognition of the long-term contributions that vacation ownership will have in The Bahamas. We are excited to begin construction of the second phase of Harborside Resort at Atlantis which upon completion will be the largest vacation ownership resort in the Bahamas,” said Raymond L. “Rip” Gellein, Jr., Chief Executive Officer of Starwood Vacation Ownership.

Harborside Resort at Atlantis will have a total of 198 villas when the second phase opens. The vast majority of Harborside employees will be local Bahamians. Kerzner International Limited will manage the resort and sales and marketing efforts will be led by Starwood Vacation Ownership, Inc.——-